To come up with this list, we have tested forex brokers Russia.

We opened a real account and deposited between $4,000 and $6,000 with each broker. Afterward, to get an accurate picture, we placed real trades in each popular market. 

Then, we reached out to customer support to see if the team was able to solve our problems. At last, we withdrew our funds thus checking the withdrawal process.

We handpicked the best forex brokers Russia based on our trading data and experience as a trader.

Can you Trade Forex in Russia?

Being the largest country in the world by its area, Russia spans from Eastern Europe to Northern Asia. It is one of the most populated countries, being in the ninth place in the world, and the first most populated country in Europe. The capital city of the country is Moscow.

The economy of the country is mixed. It has immense natural resources, the leading ones being oil and natural gas. The official currency of Russia is the Ruble.

Whether forex trading is available and legal in the country, the answer is positive. However, the market is regulated too strictly and due to the laws, there are only a few brokers that have gained local licenses.

The forex market is controlled by the Central Bank of Russia.

The official website of the Central Bank of Russia is

However, due to the present political situation, many brokers refuse to accept Russian traders. The sanctions imposed on the country have impacted Russia’s economy and caused the Ruble to plummet. Both local brokers and foreign brokers immediately suspended Ruble trading for an indefinite time.

At present brokers refuse to accept Russian traders, and many of them are notifying their clients about converting Ruble accounts to USD ones.

🏦RegulatorThe Central Bank of Russia
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo
💰Compensation SchemeNo
📊 Maximum Leverage1:30

Best Forex Brokers in Russia

Forex Trading is legal in Russia. However, the sector is regulated very tightly, with strict laws and regulations. There are only a few brokers with a local license mainly Banks based in Russia.

On the other hand, foreign brokers now mainly do not accept Russian traders. Especially due to the current sanctions, even those brokers that were available in the country formerly, have now limited their availability. So, before signing with a broker, conduct your own small research.

Due to the abovementioned, there are many offshore brokers available for Russian residents, therefore there are many scammers and scam companies targeting the traders. We recommend selecting brokers with a good reputation and additional licenses like FCA, ASIC, etc, and trying to open an account with its international entity.

Also, before signing with a broker, we advise you to check the broker’s offerings. One of the most essential aspects for Russian traders are payment methods. Always check whether the broker supports the payment methods available in the country. Customer support is another important moment to pay attention to, many of Brokers do not have Russian Speaking help or Customer Support.

To select the best forex brokers Russia, we have reviewed many regulated forex brokers. Based on our research, we have come up with a list of the best forex brokers for Russia traders, since these brokers may accept Russian traders even based elsewhere but in Russia:

  • FxPro – Best Broker for Russian Overall
  • Trading 212 – Best Online Forex Broker for Beginners in Russia
  • XTB – Best MT4 Forex Broker in Russia
  • FXTM – Best Forex Broker with Low Spreads Russia
  • Alpari – Best High Leverage Forex Broker for Russian
  • Dukascopy – Best ECN Broker in Russia

Best Broker for Russian Overall

We picked FxPro as the best online forex broker Russia overall.

FxPro was founded in 2006. This is a forex broker from the UK with licenses in the United Kingdom, Cyprus, South Africa, and the Bahamas. The broker offers contracts for differences (CFDs) across six categories: forex, shares, spot indices, futures, spot metals, and spot energies.

FxPro offers low and favorable spreads. Chiefly, spreads based on its MT4 accounts are on the lower side. In reality, the broker offers multiple accounts, such as FxPro MT4 Instant, FxPro MT4, FxPro MT5, cTrader, FxPro (EDGE), and MT4 fixed spread.

Deposits and withdrawals on FxPro are very easy and fast and include several options: credit and debit cards, bank transfers, etc. Online wallets like PayPal, Skrill, and Neteller are not available on the UK-registered entity.
Finally, the broker offers a great education, divided into sections for novice traders and professionals.

Best Online Forex Broker for Beginners in Russia

We picked Trading 212 as the best forex broker Russia for beginners.

Founded in 2004 Trading 212 is a global Forex and CFD broker. The broker is located in London with licenses by the UK Financial Conduct Authority (FCA) and the Bulgarian Financial Supervision Commission (FSC). Trading 212 offers its clients the following markets to conduct their trades: indices, forex, commodities, stocks, and cryptocurrencies.

The broker has two account types: Invest and CFD. The broker does not offer MT4 and MT5 platforms. Instead, it offers its own proprietary platform which is easy to use and conduct favorable trades. The broker offers multiple payment methods, including bank wires, credit and debit cards, as well as e-wallets (Skrill, and PayPal).

The broker’s spreads are mostly on the lower side. However, spreads for the FTSE 100 and Gold are slightly higher than the industry average.

We have chosen Trading 212 as the best forex broker Russia for beginners as the section includes a lot of material suitable for novice traders. Beginner traders have access to text tutorials, educational articles, and a demo account. Also, clients have access to the in-depth video tutorial course, which has proved to be quite helpful.

Best MT4 Forex Broker in Russia

We picked XTB as the best MT4 forex broker Russia.

Founded in 2002, XTB is a global Forex and CFD broker. It has dual headquarters in London and Warsaw, with licenses in the UK, Cyprus, Poland, Spain, and Belize. XTB offers the following markets to its clients: forex, indices, stocks, commodities, ETFs, and cryptocurrencies.

This is a no-commission forex broker that offers low spreads on Forex pairs. However, spreads on commodities, stocks, indices, and cryptocurrencies are mostly in line with industry averages. XTB offers 2 account types: Standard, and PRO accounts.

With XTB brokers can make deposits through multiple options: debit/credit cards, bank transfers, and e-wallets such as Skrill, and PayPal.

We have picked XTB as the best MT4 forex broker Russia. The broker offers its own proprietary trading platform – xStation, also the popular MetaTrader 4 (MT4) platform. The platform includes all the necessary tools and features for favorable and successful trading.

Best Forex Broker with Low Spreads Russia

We picked FXTM as the best low spread forex broker Russia.

FXTM was founded in 2011 in Cyprus. The broker holds licenses in the United Kingdom, Cyprus, South Africa, and Mauritius. FXTM offers trading services with forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and also real stocks.

Traders can choose from the two account types: Standard and ECN accounts. With the broker, there are multiple payment methods to choose from, such as international wire transfers, credit cards, several local bank transfers, and popular e-wallets like Skrill, Neteller, and Paypal.

The broker has its proprietary platform – FXTM Trader. Anyway, those who prefer the popular MT5 and MT4 platforms can still conduct their trades on those platforms.

We were not able to find a zero-spread forex broker Russia, due to the fact that there are not many trustworthy brokers in the country. Instead, we have picked FXTM as the best low-spread forex broker Russia as the broker’s spreads are mostly in line with the industry average.

Best High Leverage Forex Broker for Russians

We picked Alpari as the best high leverage forex broker Russia.

Alpari was founded in 1998. The broker is regulated by SVG FSC, FSC, but since it has been operating for many years in numerous countries, the broker is considered safe. Alpari offers trading with forex currency pairs, spot metals, CFDs along with Cryptocurrency trading.

Alpari clients have access to the popular MT4 and MT5 platforms. The broker offers several account types, as well as PAMM accounts. Alpari also offers great education both to beginner traders and professionals.

We have picked Alpari as the best High Leverage forex broker Russia. Alpari offers the highest leverage of 1:1000. However, minor currency pairs most often allow leverage of 1:400, commodities, on the other hand, are set to 1:100.

Best ECN Broker in Russia

We picked Dukascopy as the best ECN forex broker Russia.

Founded in 2004, Dukascopy is Switzerland-headquartered forex and contracts for differences (CFDs) broker. The broker is regulated in Switzerland, Japan, and Latvia. Dukascopy offers trading services in the following categories: forex, indices, commodities, cryptocurrencies, and stock CFDs.

Dukascopy offers two account types: Forex ECN Account and Forex MT4 Account. Besides, the broker also offers Swap-free Islamic accounts, Institutional accounts, Managed accounts, and PAMM accounts. The broker offers two main trading platforms: JForex which is its Proprietary Platform, and MetaTrader 4. Dukascopy is also a hedging and scalping forex broker, making it an excellent environment for running various trading strategies.

We have chosen Dukascopy as the best ECN forex broker Russia. Traders can open an ECN account with the broker and run EA and other trading strategies. Read more about ECN forex brokers here.

Russia top forex brokers list

We have tested many regulated and trustworthy forex brokers Russia. Based on our research, we have come up with a list of available forex brokers Russia.

Russia Forex BrokerAbout Our TestOur Review
Trading 212 Deposit Amount: Over €5,500
Total Trade: 15 trades
Trading 212 Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
FxProDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
DukascopyDeposit Amount: Over €4,000
Total Trade: 15 trades
Dukascopy Review
AlpariAlpari website

FAQ and More on Forex Trading in Russia

Traders usually have many questions and concerns related to forex trading in Russia. In an attempt to be helpful we picked and answered some of the most essential questions related to forex brokers Russia.

How to Verify a Russia Regulated Broker?

Traders wonder how they can verify a forex broker Russia. To verify a Russian broker, traders are recommended to check the information on The Central Bank of Russia website. However, due to regulations, there are only several regulated brokers in the country.

If you want to check if a certain broker accepts Russian clients, you can easily do that on the broker’s website. Generally, almost all brokers mention on their websites the available and restricted regions.

The Central Bank of the Russian Federation - official website

Russia Forex Brokers with No Deposit Bonus

No deposit bonus is a marketing tactic used by the brokers to attract new traders. However, there are not many brokers with no deposit bonus. In Russia, especially, as the number of brokers is limited, they may be very few brokers with bonuses.

Moreover, traders should be very careful, as many brokers targeting Russians would use bonuses as a marketing tool. Thus, it is advisable to be alert and verify the broker’s reliability.

Based on our research, we have found only one available broker in Russia with bonuses – FXTM. The broker gives you an extra 30% on top of your deposit. However, conduct your own research before signing with the broker.

Russian Forex Broker for Day Trading

Day traders execute intraday strategies and profit from the asset’s price changes. Traders often wonder what is the best forex broker Russia for day trading.

Based on our tests we found XTB the most suitable day trading platform for Russians.

Best Islamic Forex Brokers

Islamic Accounts take into consideration the principles of the Islamic or Sharia laws. The Muslim population in Russia would look for Islamic accounts in Forex Broker offerings, thus we have searched for the best brokers with Islamic accounts in the country. Read our Best Islamic Forex Brokers article for more information.

  • Dukascopy
  • FxPro
  • FXTM
  • IC Markets

Best Forex Micro Account Brokers Russia

Micro Forex Account is designed to trade in Micro lots instead of Standard lots and is one of the most popular forex account structures.

Based on our research, we found the only micro account broker available for Russian clients to be FXTM, which is also a broker with a cent account.

Binary Options Brokers in Russia

Binary options are financial products that require speculation about whether the price of the underlying assets will go up or down. However, if the market moves against the trader’s bet, there is a high risk of losing the investment entirely.

Due to the majority of offshore brokers operating in Russia there might be many binary options offerings. Still, we do not recommend this instrument due to the high risks involved.

Tax in Russia for Forex Trading

Generally, forex trading in Russia is taxable. The income tax in the country is 15%. The annual income that does not reach 5 million Ruble, is taxed at a 13% rate. There are no capital gains taxes in the country. The latter is calculated the same way as income tax. 

Russian traders should remember that they are responsible for filing tax forms to the relevant institutions in their country. In case of delay or tax avoidance, they may face huge fines and penalties.

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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